All Article articles – Page 751
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Employees not saving enough for retirement
Only 16% of respondents believe their employees are saving enough for their retirement, according to research by Wealth at Work.Its Rethink retirement survey 2012 found that just 18% of respondents said their employees are aware of the various retirement income options available to them.The research also found that 71% of ...
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PMI popular for expatriate employees
When considering benefits packages for staff overseas, private medical insurance (PMI) was the most popular option, cited by nearly a third (32%) of respondents to research by international healthcare provider Expacare.Its research, Anatomy of an international business, found that share options (30%) and relocation allowance (24%) were also popular benefits ...
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Edenred launches webinars for working parents
Edenred has launched a series of webinars for working parents as the latest addition to its Parent Hub. The hub, which was launched in September 2012, is an online advice channel for employers to offer to working parents. The content of the new webinars is based on feedback from working ...
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Dennis Publishing reviews GPP
EXCLUSIVE: Dennis Publishing has completed a review to ensure its group personal pension (GPP) plan is auto-enrolment compliant, a year ahead of its staging date in January 2014.Alison Hunter, HR director at Dennis Publishing, said: “We’ve done a lot of compliance work with our pension scheme to make sure it ...
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Government delays fuel duty increase
Autumn Statement 2012: The government is to delay the £3.02p per litre fuel duty increase planned for 1 January 2013 to 1 September 2013.This means that there will be only one fuel duty increase in 2013, and that subsequent increases will take effect on 1 September each year instead of ...
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Employers would welcome return of default retirement
Just over half (54%) of respondents would welcome the return of the default retirement age (DRA), which was removed in April 2011, according to research by law firm Irwin Mitchell.The research, which surveyed 421 UK organisations, found that, of those that said the DRA should be reintroduced, 60% would set ...
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Friends Life enhances critical illness product
Friends Life has enhanced its group critical illness offering with improved product terms, greater flexibility for members of flexible benefits schemes, and access to the Best Doctors’ service.The insurance provider has also added cardiac arrest to its standard cover, along with enhanced definitions for cancer, major organ transplant, multiple sclerosis, ...
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Pension Investment Platform confirmed
Autumn Statement 2012: Chancellor George Osborne has confirmed that the Pension Infrastructure Platform (PIP) will launch in the first half of 2013.The PIP is an initiative that aims to increase the investment by UK pension schemes in UK infrastructure.The government, the National Association of Pension Funds (NAPF) and the Pension ...
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Santander launches support for carers
Santander has launched a support scheme for employees with caring responsibilities outside of work.The scheme will provide employees with access to practical support through an online portal, which includes guides, training programmes and a variety of consultancy services.It will be provided through the bank’s membership of Employers for Carers, an ...
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The Co-operative Group enhances carer policy
The Co-operative Group has launched an enhanced people policy to support employees who are unpaid adult carers.Research into its workforce found that one in 10 of the group’s 100,000 employees are caring for a family member or friend because of illness, frailty or disability.The policy consolidates a range of flexible ...
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Time-limited incentives through company car tax
Autumn Statement 2012: The government will consider providing incentives through company car tax to encourage the purchase and development of ultra-low emission vehicles.In his Autumn Statement today, chancellor George Osborne says the government will seek the views of car manufacturers and motoring groups ahead of the Budget 2013 as he ...
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Drawdown limit increase branded ‘sellotape measure’
Autumn Statement 2012: The government’s move to increase the capped drawdown limit of pension funds from 100% to 120% has been branded a ‘sellotape measure’ that fails to tackle major issues in the post-retirement market.In his Autumn Statement today, chancellor George Osborne announced that an individual will be able to ...
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New PQM brand for multi-employer pensions
The Pension Quality Mark (PQM) is to launch a brand for multi-employer pension schemes in January 2013.The PQM Ready brand is aimed at enabling employers to identify multi-employer schemes that have good governance, good member communications and low charges.Employers that use a PQM Ready multi-employer scheme will be able to ...
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Only one-fifth of employees aware of RDR
One-fifth (21%) of respondents are aware of the retail distribution review (RDR), according to research by Canada Life Group.The research, which surveyed 1,635 employees in October 2012, found that awareness was slightly higher among men (25%) than women (19%).Under the RDR, which takes effect from 1 January 2013, pension providers ...
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ICAP selects auto-enrolment system
ICAP is to launch a pensions system in order to comply with auto-enrolment requirements ahead of its September 2013 staging date.Around 1,000 of the interdealer broker’s 1,600 employees will be covered under the new system, which manages pensions administration and communications issues. The remaining 600 staff are already in the ...
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Towers Watson to acquire Oxford Investment Partners
Towers Watson is to acquire Oxford Investment Partners to expand its investment capabilities and strengthen its leadership position in the fiduciary management market.The deal is for an undisclosed sum and subject to regulatory approval. Oxford Investment Partners (OXIP) will become part of Towers Watson’s investment business through the transfer of ...
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O2 adds health cash plan to flex
O2 has added a health cash plan to its flexible benefits scheme following a review.The cash plan is offered on a voluntary basis to the telecommunications company’s 12,000 employees.The plan, One Fund, provided by Engage Mutual, offers a choice of six premiums, which provide an annual fund of up to ...
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Invensys uses rail sale to plug pension deficit
Invensys will sell its rail division to Siemens as part of plans to provide a long-term solution to its pension scheme deficit.Siemens will assume responsibility for the Invensys Railways Pension Scheme, a defined benefit (DB) plan, which had an IAS 19 deficit of £181 million at 30 September 2012.The sale, ...
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Fire service cuts cost of physiotherapy
The West Yorkshire Fire and Rescue Service saved 23% on its physiotherapy spend in six months by replacing its face-to-face service with a dedicated advice line.The service also reported a 68% reduction in staff who needed hands-on physiotherapy because employees were able to self-manage their condition.The advice line, provided by ...
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Employee owners are happier and healthier
More than two-thirds (78%) of respondents who work for employee-owned businesses (EOBs) said their organisation had very good policies on health and wellbeing, according to research by the Employee Ownership Association (EOA).Its research, Fit for work? Health and wellbeing of employees in employee-owned business, sponsored by John Lewis Partnership, found ...